Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: Binance against gTrade (Gains Network)+0.290%52s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Binance is 0.290% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$29 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) VIRTUAL/USD	0.7179	L +0.0007% / S −0.0001%	pay 0.0001% / 1h	43m 28s	$4K	—	150x
Short	Binance VIRTUALUSDT	0.7200	0.0100	get 0.0050% / 4h	1h 43m	$16.5M	$40.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against gTrade (Gains Network). Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee gTrade (Gains Network)bpFee BinancebpOrdersPrice spread, now +0.290%Rate

Funding earned: $19.6
Price spread: +0.290% → 0.000%: $28.97
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $28.57
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: gTrade (Gains Network): no order-book sample; Binance: live order book, 13 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Binance live order book, 13 min ago	0.69 bp	12.7 bp −$13	31.0 bp −$310	120.8 bp −$12.1K	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

VIRTUAL on 33 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7201	+0.297%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7196	+0.234%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7165	−0.201%	$11K	$37K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7184	+0.067%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USDlong	L +0.0007% / S −0.0001%	1h	0.7179	long leg	$4K	—	150x
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.866%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0064%	1h	0.7192	+0.181%	$327K	$413K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7184	+0.067%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7203	+0.337%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7191	+0.168%	$98K	$291K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7197	+0.255%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDTshort	+0.0100%	4h	0.7200	+0.290%	$16.5M	$40.7M	75x
Bybit VIRTUALUSDT	+0.0100%	4h	0.7199	+0.276%	$16.6M	$18.2M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7199	+0.276%	$2.9M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7191	+0.164%	$1.4M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7197	+0.248%	$17.3M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7187	+0.109%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7201	+0.304%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7193	+0.192%	—	$8.0M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7186	+0.095%	$240K	$161K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7162	−0.236%	$532K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7171	−0.114%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7157	−0.309%	$635K	$867K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7177	−0.031%	$40K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7206	+0.376%	$52K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7183	+0.053%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7184	+0.060%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7195	+0.225%	$54K	$277K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7184	+0.061%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7178	−0.019%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7178	−0.017%	$814K	$844K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7188	+0.123%	$188K	$83K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0910%	1h	0.7196	+0.228%	$598K	$688K	50x	as long as short